Mining and metals in a sustainable world 2050
A new report, Mining and Metals in a Sustainable World 2050, has been launched as part of the World Economic Forum's Industry Agenda publication. Few industries are more fundamental to global social and economic development than mining and metals. Important in itself, representing more than $2 trillion in revenue, it also connects to the value chains of most other economic and industrial activities. The industry will face major challenges in the years to come. The future of our planet -- and of its finite, irreplaceable resources -- will be at the top of all serious agendas from now to 2050. A way has to be found to live within the earth's environmental means while coping with continued increases in both per capita consumption and population. As a result, regulation is increasing, and customer sentiments are changing. While it remains essential for companies to focus on short-term issues in today's environment of low commodity prices, long-term success in a sustainable world requires developing a long-term perspective today. The report, prepared in collaboration with The Boston Consulting Group (BCG), provides a holistic view of the changes to come for players in this industry -- as well as those in sectors that are affected by mining and metals -- and the new expectations they will have to face. It identifies key questions: How can the industry embrace the transformations to come? What business models and strategic priorities will enable success? What actions do mining and metals companies need to take now to better prepare themselves to be industry leaders in 30 years' time? Mining and Metals in a Sustainable World 2050 provides a framework that describes six key themes of transition for mining and metals companies to think about, from the industry's resource base to end-consumer demand. The report provides guidelines to forge a path from today to 2050, identifying the gaps that will have to be bridged and the potential disruptions that may have to be handled.